MARVIN MANDEL, Governor                             2341

expiration of such five—year term, at the option of the
Department upon payment of principal and interest to the
date of prepayment. Each such mortgage nay not extend
beyond five years from the date it is entered into. The
total amount to be loaned hereunder by the retirement
system for the five—year period beginning June 1, 1967,
and for any succeeding five—year period, nay not at any
time exceed ten (10%) percent of the combined total
assets of the retirement systems, nor may the amount
loaned in any one year exceed one fifth of such total
amount. The total amount loaned by any one of the
retirement systems may at no time exceed ten (10%)
percent of its assets. Such property may be acquired by
purchase or condemnation under the provisions of Title 12
of THE REAL PROPERTY Article [21], or Article 89B of
[this] THE Code.

125.

(b) Whenever a reasonable price cannot be agreed
upon, or whenever the owner is legally incapacitated or
is absent, unknown or unable to convey valid title, the
Commission is hereby authorized and empowered to acquire
by condemnation or by the exercise of the power of
eminent domain any lands, property, rights,
rights—of—way, franchises, easements and other property
of any person, copartnership, association, railroad,
public service, public utility or other corporation, or
municipality (including Baltimore City) or political
subdivision deemed necessary or convenient for the
construction or the efficient operation of any project or
necessary in the restoration of public or private
property damaged or destroyed. Any such proceeding shall
be conducted, and the compensation to be paid shall be
ascertained and paid, in the manner provided by or
referred to in § 8 or § 64 or § 9 of this article or in
Title 12 of THE REAL PROPERTY Article [21] of [this] THE
Code, or in any of said sections or amendments thereto,
or by the Constitution or any other law or laws of the
State of Maryland then applicable which relate to
condemnation or to the exercise of the power of eminent
domain. The Commission is further authorized and
empowered to exercise in this State and in any adjoining
state, or in the District of Columbia or the City of
Washington, such powers of eminent domain and such
franchises as may be conferred upon this State or the
Commission by any act of the Congress of the United
States or any act of the legislature of any adjoining
state now in force or which may hereafter be enacted or
which may be granted or assigned to the State or the
Commission. Title to any property acquired by the
Commission shall be taken, in the name of the State. In
any condemnation proceedings the court having
jurisdiction of the suit, action or proceeding may make